Abu Dhabi-based W Solar Investment announced a plan to invest in the green energy sector in Libya by building solar photovoltaic power generation plants.
The solar photovoltaic program will be designed to produce 500 MW in its first phase, with a long-term target of 2000 MW, according to Arabian Business website.
W Solar Investment will own and operate the projects for the first 25 years, and sell the net delivered energy from the plants to the Libyan government.
The solar photovoltaic plants are part of a memorandum of understanding (MoU) signed between W Solar, a subsidiary of Alpha Dhabi Holding, and the General Electricity Company of Libya (GECOL) to develop a strategic long-term partnership and collaboration in the renewable energy sector in Libya.